Marcus & Millichap brokers sale of 24-unit Phoenix apartment building
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Compiled by Matt Loeschman
PHOENIX — Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced last week the sale of Cactus Road, a 24-unit apartment property located in Phoenix.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,250,000.
“Primely located less than two miles west of State Route-51 off of Thunderbird-Cactus Road in a desirable North Mountain single-family neighborhood, Cactus Road is posed for sustained rental growth and desirability,” shared Paul Bay, first vice president investments in Marcus & Millichap’s Phoenix office.
Bay had the exclusive listing to market the property on behalf of the seller, a private investor.
The buyer, another private investor, was procured by Bay.
Cactus Road is located at 2223-2255 East Cactus Road in Phoenix.
